Earnings Per Common Share

12 Months Ended

Dec. 31, 2021

Earnings (Loss) Per Common Share

The following is a computation of basic and diluted earnings (loss) per common share for the years ended December 31, 2021, 2020, and 2019:


(in thousands, except per share data)	2021		2020		2019
Net income (loss)	$	420,300	$	(1,523,420)	$	354,095

Weighted average number of common shares outstanding - basic	219,032		220,218		220,339
Effect of potentially dilutive common shares (1)	549		—		311
Weighted average number of common shares outstanding - diluted	219,581		220,218		220,650
Earnings (loss) per common share:
Basic	$	1.92	$	(6.92)	$	1.61
Diluted	$	1.91	$	(6.92)	$	1.60

(1) Represents the effect of the assumed vesting of non-participating restricted shares based on the treasury stock method.

There were 1,000, 1.2 million and 244,000 weighted average outstanding restricted shares that were not included in the computation of diluted earnings per common share because their effect would be anti-dilutive for the years ended December 31, 2021, 2020, and 2019, respectively.